SK hynix's stock price broke through the 300,000 won mark, setting a new all-time high since it was embraced by SK Group in 2012.
SK hynix shares traded at 301,000 won on the Korea Composite Stock Price Index market at 9:03 a.m. on the 11th. The stock price rose 1.35% (4,000 won) from the previous day, marking '300,000 won-hynix.'
Overnight, the artificial intelligence (AI) leader Nvidia surpassed a market capitalization of $4 trillion (approximately 5,490 trillion won) based on its closing price, seemingly boosting investor sentiment. Nvidia became the first in the world to exceed a market capitalization of $4 trillion during trading on the 9th, and within a day, it also exceeded $4 trillion in closing value.
SK hynix is seizing the market by supplying high bandwidth memory (HBM), a key component of AI semiconductors, to Nvidia. According to global market research firm Counterpoint Research, SK hynix surpassed Samsung Electronics for the first time in the DRAM market in the first quarter (January to March) and recorded the same revenue in the overall memory market in the second quarter (April to June).
However, as SK hynix's stock price has surged more than 70% this year, the gap with securities firms' target prices has narrowed. According to data aggregated by the U.S. investment platform MarketScreener, the average target price for SK hynix among 36 institutions is 306,200 won.